Bank of New York Mellon Corporation $BNY Stock Position Lessened by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lowered its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 392,700 shares of the bank’s stock after selling 7,573 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Bank of New York Mellon were worth $45,589,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Bank of New York Mellon during the 4th quarter valued at $27,000. MCF Advisors LLC grew its holdings in Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after acquiring an additional 101 shares during the period. Marquette Asset Management LLC grew its holdings in Bank of New York Mellon by 174.7% during the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after acquiring an additional 166 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $46,000. Finally, Dunhill Financial LLC raised its holdings in shares of Bank of New York Mellon by 130.8% in the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after purchasing an additional 242 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on BNY. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Citigroup assumed coverage on Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating for the company. Weiss Ratings upgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. Finally, Morgan Stanley lifted their target price on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $138.08.

Insider Transactions at Bank of New York Mellon

In related news, VP Shannon Marie Hobbs sold 297 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the sale, the vice president owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. The trade was a 1.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the transaction, the insider directly owned 17,259 shares in the company, valued at approximately $2,347,569.18. The trade was a 23.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is owned by company insiders.

Bank of New York Mellon Price Performance

Shares of BNY opened at $142.65 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $97.91 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.04 and a beta of 1.07. The business’s 50-day moving average is $132.70 and its 200-day moving average is $122.68. Bank of New York Mellon Corporation has a fifty-two week low of $87.41 and a fifty-two week high of $144.98.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.31. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 EPS. Equities research analysts expect that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.5%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 26.27%.

Bank of New York Mellon Profile

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.